Breaking News Instant updates and real-time market news.

2017-08-22 08:04:08

FSLR

First Solar

$45.96

-2.1 (-4.37%)

08:04

08/22/17

08/22

08:04

08/22/17

08:04

First Solar sells California flats project to Capital Dynamics

First Solar announced it has completed the sale of the 280 Megawatt AC California Flats Solar Project in Monterey County, Calif., to global private asset manager Capital Dynamics. Terms of the deal were not disclosed. Located on approximately 2,900 acres of ranch land within the Jack Ranch owned by the Hearst Corporation near the San Luis Obispo and Monterey County borders, California Flats comprises two phases. The 130MW first phase is expected to be commissioned in the fourth quarter of 2017, and is fully contracted under a long-term Power Purchase Agreement. The 150MW second phase, which is currently under construction, is expected to be commissioned by the end of 2018, and is fully contracted under a long-term PPA.

FSLRFirst Solar

$45.96

-2.1 (-4.37%)

08/16/17

JMPS

08/16/17NO CHANGEJMPS

First Solar price target raised to $67 from $53 at JMP Securities

JMP Securities analyst Joseph Osha raised his price target on First Solar after attending a U.S. International Trade Commission hearing on the Section 201 petition. The analyst now believes there is a 75% chance of the commission determining that an injury has been committed, up from 50% previously. He keeps an Outperform rating on the stock.

07/28/17

COWN

07/28/17NO CHANGETarget $57COWNOutperform

First Solar price target raised to $57 from $52 at Cowen

Cowen analyst Jeffrey Osborne raised his price target on First Solar to $57 from $52 following Q2 results. The analyst cited the Section 201 ruling that has led to an increase in U.S. prices, which could favor the 300-500MW of remaining Series 4 supply. Long-term earnings power stems from Series 6, which is on track for production in 2018, said Osborne, who reiterated his Outperform rating on First Solar.

07/26/17

ROTH

07/26/17NO CHANGETarget $55ROTHBuy

First Solar price target raised to $55 from $40 at Roth Capital

Roth Capital analyst Philip Shen raised his price for First Solar to $55 from $40 as he sees momentum taking the stock higher given Section 201 and the resulting improved economic prospects for the company. The analyst reiterates a Buy rating on the shares.

07/25/17

BOFA

07/25/17NO CHANGEBOFA

Solar sector may be bottoming, First Solar best positioned, says BofA/Merrill

BofA/Merrill analyst Krish Sankar believes the Solar sector may have bottomed in Q2 2017 with installs falling about 23% compared to Q2 2016 as last year's rush was driven by fears of an ITC expiration. Sankar believes global demand is set to increase 2% in 2017, followed by mid-to-high single digit growth going forward. His top solar pick heading into earnings is First Solar (FSLR), followed by Buy rated Veeco (VECO) in the energy efficiency/LED space. The analyst remains sidelined, until there is clarity on future sponsors, in SunPower (SPWR) and 8Point3 (CAFD).

UP AFTER EARNINGS: Cintas (CTAS), up 2.9%... Micron (MU), up 2.8%. ALSO HIGHER: Editas Medicine (EDIT), up 3.1% after it received the EMA's orphan medicinal product designation for EDIT-101... Twitter (TWTR), up 1.8% after it said it will start testing longer, 280-character tweets with a small group. DOWN AFTER EARNINGS: Nike (NKE), down 3.2%. ALSO LOWER: Kornit Digital (KRNT), down 12.2% after it cut its third quarter revenue guidance... Westlake Chemical Partners (WLKP), down 8.3% after it filed to sell 4.5M units for limited partners... Intra-Cellular (ITCI), down 7.2% after it filed to sell $150M in common stock... Ascendis Pharma (ASND), down 4.3% after it announced an offering of $125M of ADSs.